Wedbush Initiates Coverage on KB Home (KBH)
Stock analysts at Wedbush assumed coverage on shares of KB Home (NYSE:KBH) in a note issued to investors on Monday. The firm set an “outperform” rating and a $22.00 price target on the stock. Wedbush’s target price would indicate a potential upside of 47.35% from the stock’s previous close.
A number of other equities analysts have also recently issued reports on the company. MKM Partners restated a “hold” rating on shares of KB Home in a report on Wednesday, June 22nd. Zacks Investment Research upgraded KB Home from a “sell” rating to a “hold” rating in a report on Friday, June 17th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $15.00 price target (up from $14.00) on shares of KB Home in a report on Sunday, June 26th. Credit Suisse Group AG restated a “sell” rating and set a $11.50 price target on shares of KB Home in a report on Wednesday, June 22nd. Finally, FBR & Co increased their price target on KB Home from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Wednesday, June 22nd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. KB Home currently has an average rating of “Hold” and an average price target of $15.33.
Shares of KB Home (NYSE:KBH) opened at 14.93 on Monday. KB Home has a 12-month low of $9.04 and a 12-month high of $16.76. The stock has a 50 day moving average of $15.47 and a 200-day moving average of $14.62. The firm has a market capitalization of $1.26 billion, a P/E ratio of 15.28 and a beta of 1.96.
KB Home (NYSE:KBH) last announced its earnings results on Tuesday, September 20th. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.03. KB Home had a return on equity of 5.83% and a net margin of 2.89%. The business had revenue of $913.30 million for the quarter, compared to analysts’ expectations of $944.14 million. During the same period in the prior year, the business posted $0.23 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. On average, equities research analysts predict that KB Home will post $1.34 EPS for the current fiscal year.
In other news, insider Jeffrey T. Mezger sold 500,000 shares of the stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $16.47, for a total transaction of $8,235,000.00. Following the completion of the transaction, the insider now owns 606,716 shares in the company, valued at approximately $9,992,612.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey T. Mezger sold 110,000 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $16.39, for a total value of $1,802,900.00. Following the transaction, the chief executive officer now owns 606,716 shares of the company’s stock, valued at approximately $9,944,075.24. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of KBH. BlackRock Fund Advisors increased its position in KB Home by 1.8% in the second quarter. BlackRock Fund Advisors now owns 6,104,115 shares of the company’s stock valued at $92,844,000 after buying an additional 108,960 shares during the last quarter. Donald Smith & CO. Inc. increased its position in KB Home by 11.6% in the second quarter. Donald Smith & CO. Inc. now owns 4,409,525 shares of the company’s stock valued at $67,069,000 after buying an additional 457,484 shares during the last quarter. Fisher Asset Management LLC increased its position in KB Home by 4.3% in the second quarter. Fisher Asset Management LLC now owns 3,708,830 shares of the company’s stock valued at $59,823,000 after buying an additional 151,347 shares during the last quarter. Systematic Financial Management LP increased its position in KB Home by 740.8% in the second quarter. Systematic Financial Management LP now owns 3,292,229 shares of the company’s stock valued at $50,074,000 after buying an additional 2,900,654 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in KB Home by 85.6% in the second quarter. AQR Capital Management LLC now owns 3,151,739 shares of the company’s stock valued at $47,938,000 after buying an additional 1,453,844 shares during the last quarter. Institutional investors own 92.39% of the company’s stock.
KB Home Company Profile
KB Home is a homebuilding company in the United States. The Company constructs and sells a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes, townhomes and condominiums. Its segments include the West Coast, Southwest, Central and Southeast homebuilding segments, and financial services segment.
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